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Oct 23, 2012
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. >> mitt romney did what he needed to do. the polls show that the momentum continues with romney ahead in a couple of polls. first up our top story, the dow taking a hit. companies warning the economy the worst than ever. >> let's put europe aside. it seems that investigator einv level on the dow. and 1400 on the s&p. and we did dip on the nasdaq today. profits disappointed and it seems frantic to cut costs. many disappointed on price. everybody was confused on getting the ipad four. that seems to be the case and facebook cramer talked about it. up 13% that revenue on the add side better than expected back to you. fast money contributor, brian kelly, good evening, gentleman, as i recall, you have been expecting a correction. now, my question to you, is this the end of the world or are we going to go to the bottom and what is going to happen next? help me out. i don't think this is a major pull back. this is just a bit of a drift lower. we hold to our outlook. it would be a buying opportunity. there is a bright spot. a lot of
. >> mitt romney did what he needed to do. the polls show that the momentum continues with romney ahead in a couple of polls. first up our top story, the dow taking a hit. companies warning the economy the worst than ever. >> let's put europe aside. it seems that investigator einv level on the dow. and 1400 on the s&p. and we did dip on the nasdaq today. profits disappointed and it seems frantic to cut costs. many disappointed on price. everybody was confused on getting the ipad...
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Oct 24, 2012
10/12
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>> no, i tweeted romney would be better for stocks and romney would be b -- obama would be better for bonds. i agree there is potentially a hawkish fed chairman. republicans have not really been for the past 50 years, at least, a tight money party. look at nixon in terms of breaking the gold standard. look at reagan in terms of reappointing volcker in 1984. volcker was a carter appointee and only reappointed when he was lowering interest rates. of course, bush with bernanke. so it's hard to find evidence that the republican party is really the party of tight money. >> i just want to add to that, that bill is exactly right. all of the analyses i've read about the potential for what would happen to interest rates under a romney presidency, that's half of the story. other half is what happens on the fiscal side that would have also a huge impact on interest rates. if romney were to come in, be more hawkish, appoint a more hawkish fed chair but be tight weather it comes to the deficit -- >> who do you think might be the gop's potential candidate in terms of replacement for ben? i've heard
>> no, i tweeted romney would be better for stocks and romney would be b -- obama would be better for bonds. i agree there is potentially a hawkish fed chairman. republicans have not really been for the past 50 years, at least, a tight money party. look at nixon in terms of breaking the gold standard. look at reagan in terms of reappointing volcker in 1984. volcker was a carter appointee and only reappointed when he was lowering interest rates. of course, bush with bernanke. so it's hard...
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Oct 24, 2012
10/12
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and my guess is if governor romney is president romney there will be a lot more focus at the treasury and at the budget office in the very near term. >> and you're right. taxing and budgeting and spending is going to be a huge thing. but look, i was there in reagan's first term and it was a hell of a ride with the fed driving -- paul volcker driving interest rates to 20% to conquer double-digit inflation. now, reagan met with volcker on a regular basis. and it turns out reagan gave volcker the ground to stand on to fight inflation. a lot of reagan's advisers disagreed. but the gipper said you do what you have to do, i can't get a recovery, and my tax cuts won't work until we get inflation and interest rates down. okay. now, is it possible that a president romney brings bernanke in for lunches, just the way this game works, or consultations, and says you've got to raise interest rates, i'm getting reports that small businesses can't get hold of all the money, it's just big businesses and big banks? we're getting reports of higher inflation, we're getting reports that the dollar is fall
and my guess is if governor romney is president romney there will be a lot more focus at the treasury and at the budget office in the very near term. >> and you're right. taxing and budgeting and spending is going to be a huge thing. but look, i was there in reagan's first term and it was a hell of a ride with the fed driving -- paul volcker driving interest rates to 20% to conquer double-digit inflation. now, reagan met with volcker on a regular basis. and it turns out reagan gave...
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ben bernanke he will not be seeking a third term and we know that mitt romney is valid to replace him should he win the election so at this point the right exams to be on the wall. we know romney doesn't want to release he said as much and it sounds like he doesn't want another term we're on a first name basis now. i don't want another and they're not our list so what that's about it's his last supper we have a beautiful display here you can see ben bernanke here bowing his disciples has fed governors and he is having his last supper except i think this is a fake last supper and i think he's attempting to be such a probably a narcissist that he can't he's not willing to go out looking like he was fired by mitt romney or replaced by by obama so they can just play in the supper and i mean if obama says that he would stay what's he going to do outside the fed i mean this is b.s. about their will they say you know bill clinton said he had a really hard time after he left the presidency because everywhere he went he would hear the head of the chief music and he couldn't true well i'm not e
ben bernanke he will not be seeking a third term and we know that mitt romney is valid to replace him should he win the election so at this point the right exams to be on the wall. we know romney doesn't want to release he said as much and it sounds like he doesn't want another term we're on a first name basis now. i don't want another and they're not our list so what that's about it's his last supper we have a beautiful display here you can see ben bernanke here bowing his disciples has fed...
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Oct 24, 2012
10/12
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why he thinks mitt romney is good for this market. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. >>> hey, it's raining on the cloud, f5 taking a big hit with earnings missing estimates. guidance also disapp
why he thinks mitt romney is good for this market. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who...
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Oct 22, 2012
10/12
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then he will criticize romney. mitt romney needs to make the case, like reagan, he is not. he will use the economic weapon to go after our adversaries, but not use the military weapon. if he makes the case piece for string that means you have the stuff -- toughest military nobody picks a fight. >> the president was respected as strong and tough. this president is not viewed that way. gerri: example number one? >> the soviets have question around. the apology tour. the ada he would apologize for our foreign policy we should be patted on the back for what we have done. >> what should obama have done? security failure but he had no attempt to rescue the people. we could have had the delta force there within one hour. it went on four or five hours. they were expendable. then we did not retaliate. gerri: obama has been the leader of the free world for four years. mitt romney does not. can he show people he would be a good leader internationally? >> talk about where he wants to take the country, and leadership is what he has to talk about. four years ago the president was ranked
then he will criticize romney. mitt romney needs to make the case, like reagan, he is not. he will use the economic weapon to go after our adversaries, but not use the military weapon. if he makes the case piece for string that means you have the stuff -- toughest military nobody picks a fight. >> the president was respected as strong and tough. this president is not viewed that way. gerri: example number one? >> the soviets have question around. the apology tour. the ada he would...
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Oct 23, 2012
10/12
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>> certainly not with romney giving him undertakings on taxes romney can't give him. erskine believes you have to do this in a balanced way w entitlement reform and tax increases at the top. >> steve raised if i can say it during the commercial break, i think more intriguing idea not on the column. >> that's really the question that's out there. >> would bernanke resign if romney were to win? >> let me tell you what i've heard on that score, people have said that they don't want him to resign if romney becomes president, that they think it's bad for the institution. >> that presupposes this is something he's already considering. >> i can't say if that's been considered, but i know that people have said there's some concern that that could happen. in the case of a president who has openly and publicly opposed the fed chairman that it's something that might be considered, and they have said that something you should talk about, that this notion that he shouldn't do that. >> there's a reason that the fed chairman's term is not concurrent with the presidential election cy
>> certainly not with romney giving him undertakings on taxes romney can't give him. erskine believes you have to do this in a balanced way w entitlement reform and tax increases at the top. >> steve raised if i can say it during the commercial break, i think more intriguing idea not on the column. >> that's really the question that's out there. >> would bernanke resign if romney were to win? >> let me tell you what i've heard on that score, people have said that...
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Oct 27, 2012
10/12
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CNN
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now it's governor romney's turn. he has a five-point plan for the economy and he says he'll create a whopping 12 million jobs in four years. i have said before, i will say it again, that's a ridiculous pledge and i'll wear a dress for a week if it happens. why? because our anemic economic growth cannot support a huge surge in job creation. not without something very substantial changing and nobody predicts that to happen. here's the five points that president romney -- that presidential candidate romney is focusing on. first, energy independence. he says this will create millions of jobs in areas like oil, gas and manufacturing. second, trade. romney will open new markets and create a level playing field by pressure countries like china. three, he'll improve education, retrain workers and help the unemployed. these will likely be state run initiatives, however. four, etch' slash spending to cut the deficit and shrink the deficit. five, he'll had help small businesses that includes repealing obama care and cutting tax
now it's governor romney's turn. he has a five-point plan for the economy and he says he'll create a whopping 12 million jobs in four years. i have said before, i will say it again, that's a ridiculous pledge and i'll wear a dress for a week if it happens. why? because our anemic economic growth cannot support a huge surge in job creation. not without something very substantial changing and nobody predicts that to happen. here's the five points that president romney -- that presidential...
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Oct 24, 2012
10/12
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canitt romney one up him two weeks to go? fred thompson next thome. td ameritrade's president and ceo. he will tell me which candidate will be better for you and your money. facebook at a crossroads. will mark zuckerberg convince investors that they climbed out of their post-ipo ditch? third quarter earnings call is starting. we're on it. we'll bring you every detail. >>> gouging calfornians at the gas pump. stringt environmental regulatis could be costing drivers big bucks here in the golden state. california governor gray davis is here with his take in a f fox business exclusive. even when they say it's not its always abou money melissa: first, take look at the day's market headlines. the bulls in full rreat. a wave of poor earnings reports trigger ad widespread selloff. the d dove 243 points, its worse loss since june. l 10 s&p 500 sectors closed in negative territor the nasdaq fell below 3,000 for the first time since august 6th. not good. >>> they missed third quarter independent estimates and lowered full year outlook. dupont announced a restruc
canitt romney one up him two weeks to go? fred thompson next thome. td ameritrade's president and ceo. he will tell me which candidate will be better for you and your money. facebook at a crossroads. will mark zuckerberg convince investors that they climbed out of their post-ipo ditch? third quarter earnings call is starting. we're on it. we'll bring you every detail. >>> gouging calfornians at the gas pump. stringt environmental regulatis could be costing drivers big bucks here in the...
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Oct 23, 2012
10/12
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most people would argue the market would prefer romney win. that notion doesn't seem to be helping any. maybe it is keeping us from falling further. who knows? >> maybe. i think it's becoming politically immune down here, believe it or not. just every little saying and stuff turns this market so much, so drastically because there's no volume and stuff like that. i'm not going to look into anything. we've got 15 gdays for all of that to sort out. >> it's going to be a long couple of weeks. names that have done well. largely u.s.-centric. even though they might be luxury names, consumer discretionary names. if your revenue comes from home, you tend to be doing better for whom it comes from europe or china. >> we talked about that before. caterpillar was one with a lot of european exposure. they suffered greatly. u.p.s. was another one, they were down on their european exposure. yahoo is one i look at today. great company. they've got a turnaround story. the stock's performing nicely, up 90 cents last night. >> also hard to separate the weakness
most people would argue the market would prefer romney win. that notion doesn't seem to be helping any. maybe it is keeping us from falling further. who knows? >> maybe. i think it's becoming politically immune down here, believe it or not. just every little saying and stuff turns this market so much, so drastically because there's no volume and stuff like that. i'm not going to look into anything. we've got 15 gdays for all of that to sort out. >> it's going to be a long couple of...
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Oct 24, 2012
10/12
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mitt romney battled back against that during the first debate. let me play that sound bite for you and ask you about it on the other side. >> the department of energy has said that the tax break for oil companies is $2.8 billion a year. and it's actually an accounting treatment as you know that has been in place for 100 years. >> time to end it. >> and in one year, you provided $90 billion in breaks to the green energy world. now, i like green energy as well, but that is about 50 years worth of what oil and gas receives. melissa: so on a proportional basis, that is 2.6 billion versus 90 billion. our brain room crunched numbed members. they got to the number lumping in the money given to green energy through the stimulus. it is not apples to apples comparisons. it is apples to oranges but at the same time it is all my money. all tax dollars and revenue taken from the government being sent out. do you disagree with that. >> not with our industry at all. our industry has not received credits grants or checks. we benefit from deductions that lowers o
mitt romney battled back against that during the first debate. let me play that sound bite for you and ask you about it on the other side. >> the department of energy has said that the tax break for oil companies is $2.8 billion a year. and it's actually an accounting treatment as you know that has been in place for 100 years. >> time to end it. >> and in one year, you provided $90 billion in breaks to the green energy world. now, i like green energy as well, but that is about...
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Oct 24, 2012
10/12
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mitt romney has said he will not re- nominate bernanke if elected. the times says if bernanke does not accept a re-nomination, obama's top picks for the job are former treasury secretary lawrence summers and the fed's vice chairwoman, janet yellen. bernanke's term is up at the end of january 2014. the federal reserve delivers its decision on interest rates this afternoon. traders highly anticipate the fomc will leave rates at historic lows. however, there's always a possibility the statement from the fed could be a market mover. bill baruch of iitrader.com says if the fed talks about gdp as a measure of when or if to stimulate the economy, it could be a bullish sign for the market. "if you've been a bear because you think the gdp is going to be poor and the economy is poor and now if they use that as a target, then that means they are going to have ease for a longer period of time, because the gdp is poor. so now the reason you've been selling kind of gives you reason to start buying. and, that's why i'm looking to buy at these levels." the fed anoun
mitt romney has said he will not re- nominate bernanke if elected. the times says if bernanke does not accept a re-nomination, obama's top picks for the job are former treasury secretary lawrence summers and the fed's vice chairwoman, janet yellen. bernanke's term is up at the end of january 2014. the federal reserve delivers its decision on interest rates this afternoon. traders highly anticipate the fomc will leave rates at historic lows. however, there's always a possibility the statement...
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Oct 24, 2012
10/12
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obviously mitt romney has not been very conciliatory toward ben bernanke. >> candidate mitt romney is looking for someone who will put more emphasis on price stability and that is understandable. it does seem to me the transition to a full the growing economy will be much better if we look at a price indicators rather than the unemployment rate. liz: what if a new guy comes in and tie-ins rates earlier rather than later? does that derail the economy or improve it? >> not really because no new chairman is going to come in and he immediately changed policy. the change in policy would be rather gradual and tend to get emphasis upon the discussion moving towards policy and that will occur, i believe, when rising house prices causes mortgage mortgage grant equivalent to moved up and that will show up in the core inflation rate. it is better for the fed to be out ahead of that rather than following behind. tracy: a little bit ahead would be a good idea. wayne angell speaking to us exclusively. thank you so much. closing bell ringing in about 48 minutes. how is this for bullish? billions of
obviously mitt romney has not been very conciliatory toward ben bernanke. >> candidate mitt romney is looking for someone who will put more emphasis on price stability and that is understandable. it does seem to me the transition to a full the growing economy will be much better if we look at a price indicators rather than the unemployment rate. liz: what if a new guy comes in and tie-ins rates earlier rather than later? does that derail the economy or improve it? >> not really...
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choose their president obama and romney are scrambling to secure crucial last minute votes and the final t.v. debate they outline their foreign policy goals which for both include pressure on iran and strengthening the u.s. military whatever the pentagon believes its cyber crime is the biggest threat now as part of our special election coverage auntie's marina portnoy brings you the details. america's military invasions interventions and targeted attacks have traditionally been deployed on the battlefield yet today a significant shift in technology has created a brand new terrain for warfare the internet which most people use for communication research and entertainment is being dubbed the battlefield of the future in an era of hackers and viruses computers are something of a weapon in the emerging world of cyber war or virtual world where military strikes are invisible and everyone online remains vulnerable earlier this month u.s. defense secretary leon panetta out warned that america faces the possibility of a cyber pearl harbor if online security is ensuring things the even greater da
choose their president obama and romney are scrambling to secure crucial last minute votes and the final t.v. debate they outline their foreign policy goals which for both include pressure on iran and strengthening the u.s. military whatever the pentagon believes its cyber crime is the biggest threat now as part of our special election coverage auntie's marina portnoy brings you the details. america's military invasions interventions and targeted attacks have traditionally been deployed on the...
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Oct 24, 2012
10/12
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romney's in maine. >> ohio is a big, big state. this is ground central for this whole campaign. >> yeah. >> you okay? you're beside yourself. >> i'm fine. >> you sure? >> i'm fine. >> you got a good-looking haircut. and there's more to life than a lot of this other stuff. you got your twins. >> you're right. they just whispered in my ear. i forgot lubrisol. >> he can't throw cornell in. >> but we should talk a lot about colorado, right? >> colorado. oh, my undergraduate school. they may turn that into a football club now i think instead of an actual -- that's what i would do. just try to compete. intramural maybe. >> okay, becky, we'll come back to you in just a moment. right now it's time for the global markets report. we're going to go across the pond where ross westgate is standing by in london to give us an update on what's going on over there. a little bit of a setup to what might happen here in the markets after a couple of very rough days, ross. >> yeah, andrew. and falls yesterday for the european markets, ftse doing a litt
romney's in maine. >> ohio is a big, big state. this is ground central for this whole campaign. >> yeah. >> you okay? you're beside yourself. >> i'm fine. >> you sure? >> i'm fine. >> you got a good-looking haircut. and there's more to life than a lot of this other stuff. you got your twins. >> you're right. they just whispered in my ear. i forgot lubrisol. >> he can't throw cornell in. >> but we should talk a lot about colorado,...
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Oct 24, 2012
10/12
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at this point, the writing seems to be on the wall if romney wins. our next guest says they are facing a dangerous monetary policy cliff. monetary policy? if romney wins, they say he is out. if obama wins, he is still out. if bernanke is out, what happens to the markets, axel? >> they all want to move away from an inflation target towards an -- target. if we get a republican administration, what that means is we will test bernanke's hypothesis that rates can be raised. what does that mean? we have so much leverage in the economy. it means that interest rates will go up. that means we will face major headwinds in the economy. what that means, also, we will go right back into recession. we will have to lower interest rates again. we have a very volatile. ahead. look at europe. europe cannot afford high interest rates. we have the same, if not worse problems ahead. connell: it sound like you are challenging the assertion if romney wins it is good for the market and the economy. you are saying that it is just not that simple. you are saying it is not tha
at this point, the writing seems to be on the wall if romney wins. our next guest says they are facing a dangerous monetary policy cliff. monetary policy? if romney wins, they say he is out. if obama wins, he is still out. if bernanke is out, what happens to the markets, axel? >> they all want to move away from an inflation target towards an -- target. if we get a republican administration, what that means is we will test bernanke's hypothesis that rates can be raised. what does that...
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Oct 23, 2012
10/12
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romney kept reversing himself. shorter romney what he said. what did romney say different than obama said? he suddenly took moderate positions when he has been taking hawkish positions up until last night. reversed on afghanistan iraq and. tracy: but they both back tracked. tom you will agree everyone was not themselves. no one had the gusto we saw on -- >> obama did. tracy: president obama didn't. >> sure he did. >> this race is fundamentally not about foreign policy. its about domestic policy. you could see whenever they got the chance to bring it back to that. >> romney didn't want to talk about. tracy: let him finish. let him finish. >> he absolutely wanted to talk about domestic policy. but he wanted to talk about domestic politics because that is what this race is about and where the administration's on defense. what has happened, alan, over the last month, we've seen the president's numbers hold firm and romney has caught up. it is incumbent you want to change that trajectory. you don't want that to continue because traditionally undeci
romney kept reversing himself. shorter romney what he said. what did romney say different than obama said? he suddenly took moderate positions when he has been taking hawkish positions up until last night. reversed on afghanistan iraq and. tracy: but they both back tracked. tom you will agree everyone was not themselves. no one had the gusto we saw on -- >> obama did. tracy: president obama didn't. >> sure he did. >> this race is fundamentally not about foreign policy. its...
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Oct 24, 2012
10/12
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can governor romney even say the president doesn't have a plan? can he accuse him of not having a plan to revive the economy? >> no, he can't accuse him of not having a plan. that is a bit of a overstatement. as your report just said old wine in new bottles or old ideas on glossy paper. we saw almost the same things, those of us who covered conventions saw on really thin newsprint the night of the acceptance sheet hand out. very similar document. what the president has been talking about. it is, however, probably not really the plan i don't think. i think that a lot of this has been looked at and rejected by congress. if he is reelected it will be refined significantly in preparations for the so-called fiscal cliff talks which will be put off until next year. lori: is it interestingly the pamphlet is only sent around to the nine key swing states? >> well there is a limit how fast the presses can run. i mean what that is a signal of to me is, and it's incredible for those of us like you and me, lori, who have been thinking about the election 18 mon
can governor romney even say the president doesn't have a plan? can he accuse him of not having a plan to revive the economy? >> no, he can't accuse him of not having a plan. that is a bit of a overstatement. as your report just said old wine in new bottles or old ideas on glossy paper. we saw almost the same things, those of us who covered conventions saw on really thin newsprint the night of the acceptance sheet hand out. very similar document. what the president has been talking about....